A typical forex transaction

There would, in Singapore, be these money changers.  They would have a board behind them, with the buying and selling prices for various currencies listed in electronic red.  But you wouldn’t get those rates!

Typically the transaction would go like this:

Q: What is the rate for USD today?

A: You want to buy or you want to sell?

Q: Buy

A: How much?

And then the quote.

This is how markets function.  Frustrating isn’t it?

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